What happened Shares of HubSpot (NYSE: HUBS) gained 35.9% in November, according to data from S&P Global Market Intelligence. The digital marketing software hub gained after both strong earnings that beat analysts' expectations, as well as general market enthusiasm following the November U.S. elections. It has been an amazing year for HubSpot, whose stock price is up a whopping 144.3% for 2020. Image source: Getty Images. So what In its third quarter, HubSpot reported hefty 31.6% revenue gains, and adjusted (non-GAAP) EPS of $0.28, with both figures beating expectations. Management also forecasts much-better-than-expected results for the fourth quarter. Importantly, while revenue impressed, HubSpot had even greater 39% growth in customers -- a great sign, since its core small- and middle-market customers often start small and then upgrade their purchases with HubSpot over time. CEO Brian Halligan said, "The year is not over, but I believe the growth we've seen in the third quarter is both a sign of the ongoing digital transformation of the mid-market and a reflection of newly heightened expectations when it comes to how easy CRM platforms need to be to match rapidly changing times." While many tend to associate small businesses with things like restaurants and gyms that are hurting right now, many small businesses are law firms, dentist and doctors' offices, investment advisors, or other white-collar jobs that are rapidly digitizing their communications with customers. This digitization of online marketing has accelerated due to the pandemic, so HubSpot is actually reaping a net benefit from coronavirus, like many other digital transformation software stocks. Additionally, HubSpot continues to delight customers and expanding its product portfolio, growing from just a digital marketing software suite to a full customer relationship management platform with an enterprise-grade backend that ties together marketing, sales automation, accounting, and other modules needed to run a digital business. Now what HubSpot is not cheap by any means after this year's massive run, at around 21 times sales -- however, its stock has never been cheap, so interested investors probably shouldn't wait to take a position in the company, which is firing on all cylinders. With over $1.2 billion in cash and investments sitting on its balance sheet against just $474 million in convertible debt, a great company culture, and a growing customer base and product suite, look for the good times to continue for HubSpot into 2021. 10 stocks we like better than HubSpotWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and HubSpot wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Billy Duberstein has no position in any of the stocks mentioned. His clients may own shares of the companies mentioned. The Motley Fool owns shares of and recommends HubSpot. The Motley Fool has a disclosure policy.Source